Business

Interest in Nigeria by international organisations and multinationals has continued to grow despite rising insurgency in the country, U.S-based economic advisory firm, Frontiers Strategy Group, said in a report titled ‘Frontier Market Sentiment Index’. The report,...

Oando Energy Resources a Nigerian and Toronto stock exchange listed company today received the consent of Nigeria’s minister of petroleum resources to buy the assets of ConocoPhilips in Nigeria. The acquisition of ConocoPhillip’s assets had been...

The Board of Directors of the African Development Bank (AfDB) approved on 13 June 2014 a loan of USD 300 million to Dangote Industries Limited for the construction and operation of a greenfield crude oil refinery...

Online payment platform, PayPal, will make an entrance into Nigeria this week. This will be in addition to nine other countries, which will increase the company’s global presence to 203 countries. PayPal will be providing online...

According to Nigeria’s statistics bureau, the May 2014 Consumer Price Index (CPI), which measures inflation, was marginally higher when compared with April 2014. Prices rose by 8.0 percent (year-on-year) in May, from 7.9 percent recorded in...

The China Civil Engineering Construction Corporation (CCECC) has marked a milestone in the completion of the Abuja to Kaduna standard rail track. The track laying which commenced in July 2013 reached a milestone of 100km this...

Shell Petroleum Development Company (SPDC) has announced plans to shut down its EA oil field in the Niger Delta area of Nigeria. This is to ensure the repair of an equipment, the Soft Yoke Mooring Platform,...

Nigeria Sovereign Investment Authority (NSIA) made a profit of 525.2 million naira ($3.4 million) during the 2012/2013 financial year. According to reports from the company’s annual financial report, NSIA also earned a gross operating income of...

Business Connexion (BCX), which is listed on the Johannesburg stock exchange, has bought a 30% interest in AppZone, an information technology solutions provider in Lagos, Nigeria. This announcement was made on Monday. However, the amount for...

French cement maker, Lafarge, is set to merge its South African business with its Nigerian unit, Lafarge Wapco. The merged company will be traded as a single entity on the Nigerian stock exchange. In a deal...